The aim of the commission behind the CPIER report was to garner baseline economic findings and views to assess the most pressing challenges facing Cambridgeshire and Peterborough in sustaining economic growth in the years ahead. The growing pains have been duly and clearly diagnosed.

The objective set out in this area’s devolution deal with the Government was to increase economic output by almost 100 per cent over the next 25 years – from £22 billion to more than £40bn.

The review talks about the potential to create 400,000 jobs and 10 additional $Bn companies to Cambridgeshire’s current 15 in the next 18 years by promoting the London-Stansted-Cambridge corridor alone. 

It shows that the area is growing faster than anywhere else in the UK and – perhaps significantly – that official government figures undersell the jobs and GVA growth of our economic powerhouse.

It often sounds fantastical when reports project stellar stats to support a region’s economical growth potential. So let’s go back to the future.

Pre Trinity College unveiling its plans for a science park in 1970 Cambridge was a cabbage patch; now it is billionaires’ row. Stansted as an identifiable commercial airport had been opened in 1969 but was unrecognisable to today’s iconic hub growing its reach across the Atlantic and ever deeper into Asia.

The truth is, it is far easier to grow from a modest base than it is from a high point: And therein lies the Cambridgeshire and Peterborough area’s dilemma. Principally because of the increasing internationalisation of Cambridge, housing, office and lab provision is near exhaustion.

Because of the increasingly intense battle for top talent, companies in the life sciences and technology sectors especially are having to cast the recruitment net farther and wider which then further impacts on both housing provision and transport options.

So do you throw in the towel and slap up the ‘Full’ signs? Or do you grasp the nettle and commit to creating the conditions where a bulging business cluster can flex its muscles on a global stage? 

It’s a no brainer that the latter is the way to go, especially with the ill-conceived Brexit looming. But there’s the rub.

The CPIER report correctly identifies that the Cambridgeshire and Peterborough area contains three distinctly specific sub-regions – Cambridge, Peterborough and The Fens – each with highly differentiated business and industrial profiles.

Innovative technology such as AI and AgriTech may help to draw together or build a bridge between some of the common strands and synergies across these three distinct micro-economies but I would argue that they cannot be treated as one region if the potential of each is to be optimised.

If wishes were horses then every beggar would ride. But growth plans for any region must be rooted in reality. There is an inescapable truth here that needs to be recognised.

Cambridge is by some distance the reason international businesses are relocating here and growing in such numbers. 

They are spreading out into the hinterland to business parks on the borders of neighbouring counties; they are throwing shoots out east, west, south and north. But Cambridge is the magnet. And that is because of the university and the employable brain power it produces for local and international businesses.

Add the fact that Cambridge University and its colleges, allied to the efforts of seven other world-class universities in the region, are building more houses than the local authorities and almost matching the output of the most prolific private developers.

It is all very laudable to cite the need for social inclusion and broader interests but money talks and global giants all want a slice of Cambridge.
Even the laudable CPIER report is handicapped because of a lack of credible stats regarding current and future recruitment and growth plans being hatched in the boardrooms of global giants now anchored principally in Cambridge. 

They can talk cogently about jobs created by only so many businesses in the locale, mostly indigenous companies. But no-one can tell us how many people are currently employed or set to be hired by the following acquirers of CAMBRIDGE companies: Apple, Google, Microsoft, Oracle, Qualcomm, Huawei, Hytera, Samsung, Takeda, SoftBank, Brother Industries, Illumina, Gilead, FuKong Interactive Entertainment, Amazon, Danaher Group, Otsuka and many, many others. 

Throw into this melting pot the CPIER finding that Cambridge companies say that if they could not grow from here they would rather move abroad to Europe, North America or South-east Asia.

Business Weekly wants the whole, beautiful diverse East of England to grow and prosper. But we retain the position that you feed the strong and then incentivise the strong to feed the less strong. And as long as Cambridge University is standing it should be blindingly obvious where the fulcrum of sustainable growth is situated and where investment resources would best be concentrated to most effectively generate broader benefit.

The entire growth investment argument could actually be diluted and ultimately lost if local influencers, with the best of intentions, try to win backing for a disparate Cambridgeshire and Peterborough mass region rather than the proven economic engines such as Cambridge.

Hopefully the summer will be spent by the commission contacting the overseas companies that have acquired Cambridge businesses and seeking their recruitment and expansion intentions for the next 5 or 10 years. They are the ones who can most accurately identify from which bases in the region they will grow – whether they will be pushing operations into surrounding counties to escape the need for wholesale relocation abroad if Cambridge cannot meet their growth needs. Indeed, whether they will need to recruit in such numbers that they have to extend beyond their current local HQs.

And where do they plan to recruit from? Globally after Brexit? That’s a tough one. From across the UK? If so, what is a reasonable daily bike commute to Cambridge? From locally based companies? If so, do those smaller companies need to scale physically or can they stay where they are or even downsize into smaller premises? 

The whole issue of scale is inter-related and will dictate how much new housing is required to accommodate future needs; how much new tarmac or rail spurs need be built.

Or, heaven forfend, will major employers pioneering new generation AI and robotics technologies be able to scale through clicks and mortar rather than bricks and mortar? Flexible working; home working; taking skills-wealthy subsidiary businesses with existing separate premises under their wing. Forging alliances with non-competing synergistic startups to acquire talent.

The most successful companies will set their own growth agendas based on the product or proposition they are selling and where their optimum vertical markets are based.

It is their roadmaps the commission needs to discover before Highways England starts swamping more of our road arteries with cones and artificial speed limits to trap fines for ailing police authorities and councils. They might just find that with smarter working practices, integrated strategies and a better global sales proposition we may not require as much new infrastructure as originally feared.

It needn’t be boom or bust for Cambridge hinterland

The Cambridgeshire and Peterborough Combined Authority area has been growing faster than the wider East of England region and the whole of the UK with rising productivity, turnover and jobs, according to a specially commissioned report released today.

Jobs growth alone is one per cent higher than official government figures. And an additional 400,000 jobs and 10 new $billion unicorn businesses could be created in the area in the next 18 years if the Government helps the region solve housing, transport, skills and general infrastructure headaches.

The growing international reach of Stansted Airport is also cited as a potential catalyst for a carefully managed business boom.

While the GVA (Gross Value Added) of the East of England grew 70 per cent between 2001 and 2016 and that of the UK at 72.7 per cent, the Cambridgeshire and Peterborough area’s GVA grew by 84.6 per cent.

Not only are businesses seeing productivity and turnover increase, but jobs growth across the area is also higher than official figures at 3.3 per cent a year between 2010 and 2016 – one per cent higher than the official ONS figure.

But rather than boom or bust, a new report that has mined these figures and identified key drivers of economic growth suggests that good strategic planning backed by commensurate infrastructure spend offers the opportunity for sustained and sustainable expansion for the area.

Dig deep, however, and there is a clear caveat: Companies in Cambridge, especially, say that if they could not grow here they would prefer to be based abroad – in Europe, North America or South-east Asia – rather than elsewhere in the region or the UK.

That is the challenge for the region and the nation – a challenge that could be made significantly harder by Brexit, the interim Cambridge & Peterborough Independent Economic Review (CPIER)suggests.

The CPIER interim study, unveiled today, is based on significant feedback from individuals, businesses, public bodies and organisations involved in social sectors and is now open to additional contributions to help sculpt a full and final report.

James Palmer, Mayor of Cambridgeshire and Peterborough Combined Authority, welcomed the review’s findings and called for united action to deliver on the potential of the jewel in the UK economy’s crown rather than let it be tarnished through inaction. He wants to see the area’s economy doubled in size by 2036.

He said: “Today’s interim report shows that Cambridgeshire and Peterborough’s economic success story is even more pronounced and widespread than government figures have suggested.

“These findings are hugely encouraging and back up my long-held belief that this area is a real economic powerhouse, vibrant and dynamic, and whose contribution to the UK economy has so far been underplayed.

“Not only are businesses seeing productivity and turnover increase, but job growth across the area is also higher than official figures at 3.3 per cent per year between 2010 and 2016 – one per cent higher than the official ONS figure.

“But the interim report also supports my view that we can waste no time in tackling key issues that could limit the fantastic economic opportunities we have in Cambridgeshire and Peterborough.

“My first term is all about grappling with the housing, transport infrastructure and skills investment required to help hit our target of doubling the size of the economy by 2036.

“The policies I back as Mayor need to not only support the upward trajectory of our economy, but also spread that prosperity to more people, no matter where they live in the Combined Authority area. The report has also picked up on this as a key challenge.

“Like the report, I recognise that different parts of the Cambridgeshire and Peterborough have different strengths and specialisms as well as unique challenges that need particular solutions.

“In Peterborough, the report highlights that the city is the largest population centre in the UK without a university. The Combined Authority has already approved £9.5 million of funding to establish a new university and the report agrees that its proposed technical and skills focus will really help Peterborough’s high-tech manufacturing and engineering sectors. 

“The report also highlights that the city is facing a skills shortage among those not going down traditional A-level and university routes. I am a big champion for apprenticeships and other learning schemes which can help people into higher skilled and better paid work while at the same time satisfying the labour needs of local businesses.

“The Fens is an agricultural powerhouse of national importance, where the famously fertile soils comprise 50 per cent of the UK’s Grade 1 arable farmland. The CPIER report says job growth here has been stronger than previously thought while its market towns are also important centres in their own right, both economically and as social hubs, connecting people to essential services.

“The report so far supports my view that transport infrastructure is holding the Fens back. It is currently far too difficult for people living in the Fens to get around, both on road and rail. 

“That’s why I’m pushing for the A10 between Ely and Cambridge to be dualled and why I want to see the whole of the A47 dualled from Peterborough to Wisbech to really open up the Fens to opportunities in the whole Combined Authority area. The longer-term goal of extending the M11 north from Cambridge to the A47 would, in my view, be transformational for north-south connectivity.

“On rail, since election I have campaigned for the March to Wisbech rail link to be re-established, for other Fenland rail stations to be enhanced and for Soham Station to be re-opened, all with a view of bringing the Combined Authority area closer together.

“The report also notes our market towns strategy and our attempts to enhance their economic prosperity through our Masterplans for Growth programme which has been successful in St Neots and is being rolled out to other towns.

“The Greater Cambridge economy is well known for strong growth and the report suggests this is even higher than official figures reflect. This area is a great place to live, work and do business, but the report supports my view that continued improvement is not sustainable without investment.

“It is well documented that the housing crisis is particularly acute in Greater Cambridge, where a two-bedroom home can cost £500,000 in the city and where demand vastly outstrips supply of affordable housing. 

“The Combined Authority already has a ring-fenced £70 million to deliver 500 council homes for Cambridge city. That is coupled with initiatives like campaigning for £193m of central Government funding for developing Cambridge’s Northern Fringe East site, which would deliver 7,600 new homes and 7,000 new jobs.

“I am also backing fresh thinking in delivering truly affordable homes in communities through schemes like Community Land Trusts (CLTs), which offer rents at rates cheaper than traditional housing associations and are managed by local people for local people who live and work in the area.

“Schemes like these have already been successful in villages like Stretham and there is scope for more. The Combined Authority has approved a £6.5m commercial loan for a 54-home CLT scheme at Haddenham as well as the preparation of a business case for a £40m commercial loan for a further 1,850 homes on a series of other sites.

“But housing growth cannot be sustained without good infrastructure, as the CPIER report rightly notes. Greater Cambridge’s transport system needs a complete overhaul and that’s why I have begun the process of exploring an underground Metro solution for Cambridge centre and extending out to the wider area.

“I have also been vocal about the proposed Cambridge South Station and the need for a speedier interim station solution by 2021 to facilitate the growing life sciences sector at Cambridge Biomedical Campus, which is already among the world’s best.

“Overall, the report so far paints a picture of a vibrant economy across the whole of Cambridgeshire and Peterborough while noting the significant challenges in making that growth sustainable and inclusive for all.

“The report also backs my view that there is no time to waste in addressing those challenges through the delivery of key housing, transport infrastructure and skills projects.

“The Combined Authority must power this economy forward and allow more people to share in its prosperity, both now, and in the future. I am pushing every day to ensure we do just that.”

More than 50 per cent of respondents in the review consultancy process to date acknowledged proximity to local premises, local labour supply and the quality of the local environment as “important”, “very important” or “critically important.” 

“Therefore, it will be necessary to think about what makes the economy of Cambridgeshire and Peterborough unique within the UK and how this unique character can be maintained so that the significant contributions to national growth can continue,” says the review.

One of the challenges is to harness the best of three distinct economies within the combined authority area – Cambridge, Peterborough and The Fens. 
The Cambridgeshire and Peterborough area is special in that it contains significantly higher concentrations of particular industries than other areas of the UK, says the review. 

CPIER also notes that a sizeable part of growth in the area as a whole is indigenous – growth organically driven by native companies – even though Cambridge itself is benefiting from investment locally by a host of US, Chinese and Japanese giants including Apple, Microsoft, Google, Amazon, SoftBank, Samsung, Oracle, Brother Industries, Illumina and many more.

• PHOTOGRAPH SHOWS: James Palmer, Mayor of Cambridgeshire and Peterborough Combined Authority

Horizon Discovery, a Cambridge UK world leader in gene editing technology, unveiled a new CEO on the day it posted a 52 per cent increase in group revenue for the year to December 31.

Terry Pizzie, a promotion from within, takes the reins vacated by the inspirational Darrin Disley who left earlier this year.

Many will feel that today’s preliminary results are a legacy to the empire Dr Disley built.

Revenue was up to £36.5 million; gross margin increased to 62 per cent from 54 per cent the previous year, driven by significantly increased services business margins.

Horizon had closing cash and equivalents of £28.1m (FY16: £6.1m) strengthened by £80m gross capital raised in August 2017.

Pizzie said Horizon was uniquely positioned to capitalise on significant market opportunity with its addressable markets estimated by management to be worth £2.2 billion and growing at around 20 per cent a year.

Pizzie said: “2017 was a transformational year for the group with the acquisition of Dharmacon – which is already performing well with more value enhancement synergies becoming apparent every day; an over-subscribed £80 million fundraising; the deepening of our core gene editing capabilities; the strengthening of our commercial operations; and the rationalisation of internal operations, such that the business is fit to scale.  

“These activities have significantly enhanced the group’s operations and Horizon Discovery is now a global leader in the gene editing and gene modulation market and has the technical and commercial platforms in place to deliver significant value for shareholders. 

“In the first quarter the group has made a solid start to the year and is trading in line with board expectations. 

“We have continued to deliver growth, while implementing operational efficiency and cost control measures that together have put the group on a path to sustainable and profitable growth. 

“With a clear vision and strategy for the business, a strong team in place focused on delivery, and good long-term growth prospects from our underlying business, we have high confidence for the future.”

The new CEO joined Horizon Discovery in 2017 as head of commercial operations and has close to 30 years of leadership experience within the biotechnology tools sector. 

Since joining Horizon, his impact is described as “significant as he has rapidly built a world-class commercial team, recruiting talent from across the industry. 

“His actions have aligned Horizon’s commercial teams and allowed them to sell the full Horizon portfolio to all customers across different geographies as well as form teams focused on adding value to key customer accounts.”

Before joining Horizon, Pizzie worked for Pacific Biosciences, first as vice-president Europe, and later as head of global sales.

Previous leadership roles include director global commercial operations at Genetix prior to its acquisition by Danaher; and senior VP global commercial operations at Swedish biotechnology firm Biacore, where he was part of the team that reignited the company’s commercial success, culminating in its acquisition by GE Life Sciences in 2006. 

Finance chief Richard Vellacott took the helm as interim CEO following Dr Disley’s departure.

Horizon Discovery, a Cambridge UK world leader in gene editing technology, unveiled a new CEO on the day it posted a 52 per cent increase in group revenue for the year to December 31.

Terry Pizzie, a promotion from within, takes the reins vacated by the inspirational Darrin Disley who left earlier this year.

Many will feel that today’s preliminary results are a legacy to the empire Dr Disley built.

Revenue was up to £36.5 million; gross margin increased to 62 per cent from 54 per cent the previous year, driven by significantly increased services business margins.

Horizon had closing cash and equivalents of £28.1m (FY16: £6.1m) strengthened by £80m gross capital raised in August 2017.

Pizzie said Horizon was uniquely positioned to capitalise on significant market opportunity with its addressable markets estimated by management to be worth £2.2 billion and growing at around 20 per cent a year.

Pizzie said: “2017 was a transformational year for the group with the acquisition of Dharmacon – which is already performing well with more value enhancement synergies becoming apparent every day; an over-subscribed £80 million fundraising; the deepening of our core gene editing capabilities; the strengthening of our commercial operations; and the rationalisation of internal operations, such that the business is fit to scale.  

“These activities have significantly enhanced the group’s operations and Horizon Discovery is now a global leader in the gene editing and gene modulation market and has the technical and commercial platforms in place to deliver significant value for shareholders. 

“In the first quarter the group has made a solid start to the year and is trading in line with board expectations. 

“We have continued to deliver growth, while implementing operational efficiency and cost control measures that together have put the group on a path to sustainable and profitable growth. 

“With a clear vision and strategy for the business, a strong team in place focused on delivery, and good long-term growth prospects from our underlying business, we have high confidence for the future.”

The new CEO joined Horizon Discovery in 2017 as head of commercial operations and has close to 30 years of leadership experience within the biotechnology tools sector. 

Since joining Horizon, his impact is described as “significant as he has rapidly built a world-class commercial team, recruiting talent from across the industry. 

“His actions have aligned Horizon’s commercial teams and allowed them to sell the full Horizon portfolio to all customers across different geographies as well as form teams focused on adding value to key customer accounts.”

Before joining Horizon, Pizzie worked for Pacific Biosciences, first as vice-president Europe, and later as head of global sales.

Previous leadership roles include director global commercial operations at Genetix prior to its acquisition by Danaher; and senior VP global commercial operations at Swedish biotechnology firm Biacore, where he was part of the team that reignited the company’s commercial success, culminating in its acquisition by GE Life Sciences in 2006. 

Finance chief Richard Vellacott took the helm as interim CEO following Dr Disley’s departure.

Horizon Discovery, a Cambridge UK world leader in gene editing technology, unveiled a new CEO on the day it posted a 52 per cent increase in group revenue for the year to December 31.

Terry Pizzie, a promotion from within, takes the reins vacated by the inspirational Darrin Disley who left earlier this year.

Many will feel that today’s preliminary results are a legacy to the empire Dr Disley built.

Revenue was up to £36.5 million; gross margin increased to 62 per cent from 54 per cent the previous year, driven by significantly increased services business margins.

Horizon had closing cash and equivalents of £28.1m (FY16: £6.1m) strengthened by £80m gross capital raised in August 2017.

Pizzie said Horizon was uniquely positioned to capitalise on significant market opportunity with its addressable markets estimated by management to be worth £2.2 billion and growing at around 20 per cent a year.

Pizzie said: “2017 was a transformational year for the group with the acquisition of Dharmacon – which is already performing well with more value enhancement synergies becoming apparent every day; an over-subscribed £80 million fundraising; the deepening of our core gene editing capabilities; the strengthening of our commercial operations; and the rationalisation of internal operations, such that the business is fit to scale.  

“These activities have significantly enhanced the group’s operations and Horizon Discovery is now a global leader in the gene editing and gene modulation market and has the technical and commercial platforms in place to deliver significant value for shareholders. 

“In the first quarter the group has made a solid start to the year and is trading in line with board expectations. 

“We have continued to deliver growth, while implementing operational efficiency and cost control measures that together have put the group on a path to sustainable and profitable growth. 

“With a clear vision and strategy for the business, a strong team in place focused on delivery, and good long-term growth prospects from our underlying business, we have high confidence for the future.”

The new CEO joined Horizon Discovery in 2017 as head of commercial operations and has close to 30 years of leadership experience within the biotechnology tools sector. 

Since joining Horizon, his impact is described as “significant as he has rapidly built a world-class commercial team, recruiting talent from across the industry. 

“His actions have aligned Horizon’s commercial teams and allowed them to sell the full Horizon portfolio to all customers across different geographies as well as form teams focused on adding value to key customer accounts.”

Before joining Horizon, Pizzie worked for Pacific Biosciences, first as vice-president Europe, and later as head of global sales.

Previous leadership roles include director global commercial operations at Genetix prior to its acquisition by Danaher; and senior VP global commercial operations at Swedish biotechnology firm Biacore, where he was part of the team that reignited the company’s commercial success, culminating in its acquisition by GE Life Sciences in 2006. 

Finance chief Richard Vellacott took the helm as interim CEO following Dr Disley’s departure.

Horizon Discovery, a Cambridge UK world leader in gene editing technology, unveiled a new CEO on the day it posted a 52 per cent increase in group revenue for the year to December 31.

Terry Pizzie, a promotion from within, takes the reins vacated by the inspirational Darrin Disley who left earlier this year.

Many will feel that today’s preliminary results are a legacy to the empire Dr Disley built.

Revenue was up to £36.5 million; gross margin increased to 62 per cent from 54 per cent the previous year, driven by significantly increased services business margins.

Horizon had closing cash and equivalents of £28.1m (FY16: £6.1m) strengthened by £80m gross capital raised in August 2017.

Pizzie said Horizon was uniquely positioned to capitalise on significant market opportunity with its addressable markets estimated by management to be worth £2.2 billion and growing at around 20 per cent a year.

Pizzie said: “2017 was a transformational year for the group with the acquisition of Dharmacon – which is already performing well with more value enhancement synergies becoming apparent every day; an over-subscribed £80 million fundraising; the deepening of our core gene editing capabilities; the strengthening of our commercial operations; and the rationalisation of internal operations, such that the business is fit to scale.  

“These activities have significantly enhanced the group’s operations and Horizon Discovery is now a global leader in the gene editing and gene modulation market and has the technical and commercial platforms in place to deliver significant value for shareholders. 

“In the first quarter the group has made a solid start to the year and is trading in line with board expectations. 

“We have continued to deliver growth, while implementing operational efficiency and cost control measures that together have put the group on a path to sustainable and profitable growth. 

“With a clear vision and strategy for the business, a strong team in place focused on delivery, and good long-term growth prospects from our underlying business, we have high confidence for the future.”

The new CEO joined Horizon Discovery in 2017 as head of commercial operations and has close to 30 years of leadership experience within the biotechnology tools sector. 

Since joining Horizon, his impact is described as “significant as he has rapidly built a world-class commercial team, recruiting talent from across the industry. 

“His actions have aligned Horizon’s commercial teams and allowed them to sell the full Horizon portfolio to all customers across different geographies as well as form teams focused on adding value to key customer accounts.”

Before joining Horizon, Pizzie worked for Pacific Biosciences, first as vice-president Europe, and later as head of global sales.

Previous leadership roles include director global commercial operations at Genetix prior to its acquisition by Danaher; and senior VP global commercial operations at Swedish biotechnology firm Biacore, where he was part of the team that reignited the company’s commercial success, culminating in its acquisition by GE Life Sciences in 2006. 

Finance chief Richard Vellacott took the helm as interim CEO following Dr Disley’s departure.

Horizon Discovery, a Cambridge UK world leader in gene editing technology, unveiled a new CEO on the day it posted a 52 per cent increase in group revenue for the year to December 31.

Terry Pizzie, a promotion from within, takes the reins vacated by the inspirational Darrin Disley who left earlier this year.

Many will feel that today’s preliminary results are a legacy to the empire Dr Disley built.

Revenue was up to £36.5 million; gross margin increased to 62 per cent from 54 per cent the previous year, driven by significantly increased services business margins.

Horizon had closing cash and equivalents of £28.1m (FY16: £6.1m) strengthened by £80m gross capital raised in August 2017.

Pizzie said Horizon was uniquely positioned to capitalise on significant market opportunity with its addressable markets estimated by management to be worth £2.2 billion and growing at around 20 per cent a year.

Pizzie said: “2017 was a transformational year for the group with the acquisition of Dharmacon – which is already performing well with more value enhancement synergies becoming apparent every day; an over-subscribed £80 million fundraising; the deepening of our core gene editing capabilities; the strengthening of our commercial operations; and the rationalisation of internal operations, such that the business is fit to scale.  

“These activities have significantly enhanced the group’s operations and Horizon Discovery is now a global leader in the gene editing and gene modulation market and has the technical and commercial platforms in place to deliver significant value for shareholders. 

“In the first quarter the group has made a solid start to the year and is trading in line with board expectations. 

“We have continued to deliver growth, while implementing operational efficiency and cost control measures that together have put the group on a path to sustainable and profitable growth. 

“With a clear vision and strategy for the business, a strong team in place focused on delivery, and good long-term growth prospects from our underlying business, we have high confidence for the future.”

The new CEO joined Horizon Discovery in 2017 as head of commercial operations and has close to 30 years of leadership experience within the biotechnology tools sector. 

Since joining Horizon, his impact is described as “significant as he has rapidly built a world-class commercial team, recruiting talent from across the industry. 

“His actions have aligned Horizon’s commercial teams and allowed them to sell the full Horizon portfolio to all customers across different geographies as well as form teams focused on adding value to key customer accounts.”

Before joining Horizon, Pizzie worked for Pacific Biosciences, first as vice-president Europe, and later as head of global sales.

Previous leadership roles include director global commercial operations at Genetix prior to its acquisition by Danaher; and senior VP global commercial operations at Swedish biotechnology firm Biacore, where he was part of the team that reignited the company’s commercial success, culminating in its acquisition by GE Life Sciences in 2006. 

Finance chief Richard Vellacott took the helm as interim CEO following Dr Disley’s departure.

World leading gene editing business Horizon Discovery has rejected a potential takeover approach from fellow Cambridge UK quoted company Abcam plc, an international provider of research tools, which values Horizon at £270 million.

Horizon rejected the proposal – which Abcam reveals was actually made on April 19 – today. That’s despite the proposal representing a premium of approximately 26 per cent to Horizon Discovery’s closing share price of 144 pence on May 1.

Horizon’s share price has fallen sharply since inspirational CEO Dr Darrin Disley quit to pursue other interests on February 20.

Dr Disley is a close ally of Abcam co-founder Dr Jonathan Milner who is a shareholder in both businesses.

Abcam is building a new global headquarters at Cambridge Biomedical Campus and is constantly on the look-out for strategic acquisitions. Horizon would be a great fit, as Abcam directors are telling Horizon shareholders in a bid to force the pace towards a potential formal bid.

Abcam believes that a combination with Horizon’s business would help both companies expand their reach and influence globally. It also believes that the move would accelerate Horizon Discovery’s growth, enhance the capabilities for both businesses and create significant value for researchers through the development of new products and services. 

Abcam has a proven track-record of acquiring and successfully integrating businesses.

The Abcam board said it felt the proposal represented “a compelling opportunity to drive superior value creation for the shareholders of both companies.”

They added: “Accordingly, Abcam is seeking to engage with Horizon Discovery in a constructive dialogue and is announcing the proposal as a means to encourage and further that process.”

Abcam actually made the approach in mid-April but has decided to go public to make Horizon shareholders aware of the opportunity.

Dr Disley has reportedly been inundated with offers for his executive services since the split with Horizon, which has grown globally from a Cambridge Research Park springboard. Horizon finance chief Richard Vellacott is the interim CEO.

• PHOTOGRAPH SHOWS: Dr Jonathan Milner

New French and Chinese investment has helped Crescendo Biologics in Cambridge raise $70 million in Series B financing – the largest disclosed Series B in Europe so far in 2018.

French investor Andera Partners and Chinese backer Yuan Capital came fresh to the party.

The funds will be used to advance the development of Crescendo’s lead programme, CB307, which stimulates local activation of tumour-specific T-cells, into the clinic and further expand its internal pipeline of products.

Crescendo is developing potent, multi-functional Humabody® therapeutics in oncology. It is pursuing novel Humabody®-based product opportunities through in-house development and strategic partnerships. To date, it has a collaboration with Takeda Pharma worth up to $790m.

The Series B round was led by Andera Partners (formerly Edmond de Rothschild Investment Partners) with Europe’s largest life science fund Biodiscovery V, and joined by Quan Capital with its leading life sciences fund, Quan Venture Fund I, and Crescendo’s existing investors Sofinnova Partners, IP Group, EMBL and Takeda Ventures. 

Gilles Nobécourt, partner at Andera Partners and lead investor said: “We have been very impressed with the high quality of the novel biology behind multi-functional Humabodies and Crescendo’s growing development portfolio. Crescendo is a true pioneer in the development of targeted T-cell engagement and we are looking forward to working with the team.”

Marietta Wu, managing director of Quan Capital which invested a significant amount in the round, explained: “We have been especially drawn to the Humabody® platform that offers multiple potential advantages over the current antibody (IgG) approaches and could enable the company to quickly build a substantial portfolio of impactful therapeutics. 

“We look forward to joining our partners to rapidly advance Crescendo’s portfolio into clinical development where we can improve patient lives.”
Peter Pack, CEO of Crescendo, explained the long-term potential for the UK pioneer’s technology.

He said: “We appreciate the strong support – past and present – from our current investors, who have enabled us to grow the business to this point. In this round we are also welcoming two new investors, Andera Partners and Quan Capital. We look forward to taking our lead programme, CB307 into the clinic and further exploit our technology platform with new products.”

Cambridge University scientists have identified a potential therapeutic target in the devastating genetic disease Hutchinson-Gilford Progeria Syndrome (HGPS), characterised by premature ageing.

In a paper published today in Nature Communications, scientists provide preclinical data showing that chemical inhibition or genetic deregulation of the enzyme N-acetyltransferase 10 (NAT10) leads to significant health and lifespan gains in a mouse model of HGPS.
 
HGPS is a rare condition: patients have an average life expectancy of around 15 years, suffering a variety of symptoms including short stature, low body weight, hair loss, skin thickening, problems with fat storage, osteoporosis and cardiovascular disease, typically dying of a heart attack.

The disease arises from specific mutations in the gene for the protein Lamin A, which lead to production of a shorter, dysfunctional protein that accumulates in cells, specifically in the membranes surrounding the nucleus.

This causes disorganisation of chromatin (the ‘packaging’ around DNA), deregulated transcription, accumulation of DNA damage and defective cell proliferation. 

By screening candidate molecules for an effect on nuclear membranes in human HGPS patient-derived cells in vitro, the authors have previously identified a small molecule called remodelin as an effective ameliorative agent.

They then identified which component of the cells was being affected by remodelin: an enzyme with a variety of cell functions, called NAT10. Their aim in the new study was to take these findings into a mouse model with the same genetic defect as HGPS patients, to see whether inhibiting NAT10 – either chemically by administration of remodelin or genetically by engineering reduced production of NAT10 – could ameliorate the disease. 

The results show that these approaches indeed significantly improved the health of the diseased mice, increased their lifespan, and reduced the effects of the HGPS mutation across a variety of measures in body tissues and at the cellular level.

The research was led by Dr Gabriel Balmus from the Wellcome Trust/ Cancer Research UK Gurdon Institute and Dr Delphine Larrieu from the Cambridge Institute for Medical Research, University of Cambridge; and Dr David Adams from the Wellcome Sanger Institute. 

Senior author Professor Steve Jackson said: “We’re very excited by the possibility that drugs targeting NAT10 may, in future, be tested on people suffering from HGPS. 

“I like to describe this approach as a ‘re-balancing towards the healthy state. 

’“We first studied the cell biology to understand how the disease affects cells, and then used those findings to identify ways to re-balance the defect at the whole-organism level. Our findings in mice suggest a therapeutic approach to HGPS and other premature ageing diseases.” 

This study was funded by the Wellcome Trust and the Medical Research Council and core funding to the Gurdon Institute from the Wellcome Trust and Cancer Research UK.

• PHOTOGRAPH SHOWS: Professor Steve Jackson